- Exchange allows users to bind their Visa cards to account and purchase cryptos directly on the website
- Only Visa credit and debit cards issued within the European Economic Area are supported for now
- Support for Mastercard and additional currencies would be coming in the near future
In order to access this service, users have to go to the “Buy Crypto” page and submit an amount of EUR or GBP. After this, they have to click “Add Card” to bind their Visa card. Once they have added their Visa card, users can then directly purchase digital currencies like Bitcoin (BTC), Ethereum (ETH), BNB, and XRP.
For now, only Visa credit and debit cards issued within the European Economic Area are supported and covers the:
- United Kingdom
- Czech Republic
- Republic of Cyprus
Binance would be adding support for Mastercard and additional currencies in the near future.
Recently, the exchange added new trading pairs for two of the fiat currency Turkish Lira (TRY) and Russian ruble (RUB). Binance added ETH/TRY, XRP/TRY, USDT/TRY, and USDT/RUB trading pairs.
Slowly but surely! #Binance
Many people still don’t understand the impact this will have, but they will. pic.twitter.com/Ci5Geabm6A
— CZ Binance (@cz_binance) December 21, 2019
Last week, Binance also invested ‘tens of millions’ in Alameda research-backed crypto derivatives exchange FTX. Less than a year old exchange FTX quickly became a competitive crypto derivatives exchange that ranks 6th by market share and raised $8 million in funding back in August.
This has been Binance’s 3rd investment after the Seychelles-based derivatives platform JEX. Exchange’s strategic investment in the derivatives platform also involved Binance acquiring a position in FTX token.